How an Economy Grows and Why It Crashes
How an Economy Grows and Why it Crashes (2010) is an illustrated book on various economic topics by Peter Schiff and Andrew Schiff. The book allegorically explores such topics as inflation, deficit spending, central banking, international trade, and the housing bubble and 2007–2008 financial crisis. The Washington Times stated that the book "[conveys] the often intuitive ideas of economics through an engaging, fictitious story richly illustrated with amusing cartoons."[1]
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| Author | Peter Schiff and Andrew Schiff |
|---|---|
| Illustrator | Brendan Leach |
| Language | English |
| Subject | Finance/Economics |
| Publisher | Wiley |
Publication date | May 3, 2010 (1st edition) |
| Publication place | United States |
| Media type | Print (Hardback) |
| Pages | 256 |
| ISBN | 047052670X |
Content
editThis book presents three important points of Austrian economics: First, the fundamental reason for promoting economic growth is production, not consumption; second, improving the deteriorating economic situation requires savings rather than consumption; third, the economy does not need inflation but rather deflation for prosperity.
Award
editThe book was a 2010 winner of the getAbstract International Book Award,[2] and a New York Times best-seller.[3]
Preceding book
editThe book was based on an earlier "economic comic book" by the authors' father Irwin Schiff, titled How an Economy Grows and Why it Doesn't.
References
edit- ^ Lott, Roger (2010-06-30). "BOOK REVIEW: 'How an Economy Grows and Why It Crashes'". Washington Times. Retrieved 2013-08-18.
- ^ "getAbstract". getAbstract. Retrieved 2013-08-18.
- ^ Dixler, Elsa. "Best Sellers – The New York Times". Nytimes.com. Retrieved 2013-08-18.